Gold in America: TNR Gold Corp.: 100% Interest Negotiated on Shotgun Gold Project, Alaska TNR.v, NG.to, ABX, KGC, TCK, GG, NEM, BVN, AUY, MAI.to, GRC.to, NGQ.to, FCX, GDX, HUI, XAU

"CaseyResearch: Most Alaskan gold comes from only a handful of mines – and that tells you something about the size of the deposits being worked. The two largest mines, Fort Knox and Pogo, account for more than 80% of 2008 total gold production, or 640,000 ounces. The Kensington project, which started producing gold just a month ago, is set to become the third largest. Perhaps. But these mines are small potatoes compared to some of the current projects being advanced toward production. Given that a million ounces of contained gold is considered a large gold mine, Alaska’s major deposits are genuine monsters: Pebble has 107.3 million ounces of gold, Donlin Creek has 42.3 million, and Livengood has 19.7 million. If these go into production, Alaska will rank as one of the world’s top gold producers."

 

 "If you grow something - it takes time, energy and a lot of effort. Not all connections will be apparent at the first sight - you need to know what you are doing. Those who are in this Gold Bull market from its very beginning, remember that Barrick was always among those "hedgers who was playing by the music of anti gold cartel." Situation has changed, when the company announced its unloading of its hedging and now it will enjoy the leverage to the gold price, but the real party will be going where resources are - in junior mining sector. In order to have more understanding of the next steps to realise value in this stage of this Bull we need to do some digging. We will refer you to couple of our old post, which are relevant today even more than before."


  We hope that, finally, market will find out that TNR Gold has gold not only in its name, but holds now 100% of Shotgun Gold deposit in Alaska. With all recent cyber activity in the market we thought that there is no hope in justice for this junior and nobody will ever honor their word again. Nova Gold has proved us to be wrong here. We guess that such a deal took some time and we are raising our hat to the Nova Gold management, who fulfilled their commitment.
  Even more, apparently, they can see the value and upside in all assets of TNR Gold in Gold, Copper, Lithium and REE. The deal is done with shares and warrants of TNR Gold. Nova Gold was holding the stake in TNR Gold before and now they have increased it just under 10%. Whoever has been shaken the tree with automated selling, he will not be able to get any more cheap shares in this junior. Management and insiders hold 50% of the company. Among other shareholders is another major - Barrick Gold. Canada Zinc Metals holds a strategic stake in the TNR Gold and Chinese Togling is buying now more than 30% in CZX.v In this light, trip to China will be very interesting: TNR Gold holds REE project in Canada: Big Beaverhouse and with all recent publicity around REE, we can expect some new developments here as well.

  Update: Now CEO of TNR Gold is buying in the market as well.


  This Fall is going to be hot for this company: International Lithium has announced their upcoming trip to China and Europe with pre IPO financing and TNR Gold will have a full plate after spin off of International Lithium with this acquisition.
  Insiders are backing International Lithium valuation at 15 million CAD according to information circular and Shotgun, we think, could be north of 15 million as well, if we consider 15 USD per Oz on NON NI43-101 historical resource or double the NAV (8 million * 2 =16 Million CAD) according to industry standard valuation now.

  Los Azules and Escorpio IV legal case is a pure blue sky potential here for valuation of this company and all other properties will be an icing on the cake.

  By the way, Minera Andes is rising with volume last few days as well - something is brewing on over there. Normally, before real estate agent will bring his clients house will be cleaned.
  We are so much fed up with this illegal practice of junior miners stocks manipulation in Canada, that will notice one more time: even today on the up tick and the volume up Scotia was hitting on the bids with 500 shares trade. It is not the way to sell - you would sit on the ask in a rising market, but the way to suppress the price and wait others to sell at this lower level: it was happening last few days. And today at the close Scotia proudly hit the bid with 500 just to show the closing lower - at 0.185CAD.

Recent Trades - Last 10 of 64


Time ET Ex Price Change Volume Buyer Seller Markers

15:59:01 V 0.185 0.01 500 33 Canaccord 85 Scotia K

15:56:34 V 0.19 0.015 340 80 National Bank 59 PI E

15:50:51 V 0.19 0.015 500 99 Jitney 1 Anonymous K

15:43:39 V 0.185 0.01 4,000 33 Canaccord 1 Anonymous K

15:34:07 V 0.185 0.01 500 33 Canaccord 85 Scotia K

15:28:09 V 0.185 0.01 9,000 7 TD Sec 9 BMO Nesbitt K

15:14:55 V 0.19 0.015 10,000 2 RBC 1 Anonymous K

15:04:35 V 0.19 0.015 5,000 7 TD Sec 1 Anonymous K

15:02:08 V 0.19 0.015 8,000 79 CIBC 79 CIBC K

15:02:08 V 0.19 0.015 12,000 79 CIBC 1 Anonymous K


  We would caution hot heads from this "mysterious hedge fund" specialising in illiquid juniors with market cap under 20 mil - you can lose you pants here and will not shake out Nova Gold, Canada Zinc Metals and Barrick Gold with insiders. IR has told us that they have informed TSX and Exchange is monitoring the situation.

  We are not certified to provide any valuation, so you will have to divide the value on the number of shares outstanding by yourself here.

  But lets dig up the asset - Shotgun:

  Technical Report on the Shotgun - Winchester project, SW Alaska.

Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advise on this blog and there is no solicitation to buy or sell any particular company here. Always consult with your qualified financial adviser before making any investment decisions.

TNR Gold Corp.: 100% Interest Negotiated on Shotgun Gold Project, Alaska

Press Release Source: TNR Gold Corp. On Thursday September 30, 2010, 8:00 am EDT

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 30, 2010) - TNR Gold Corp. ("TNR" or the "Company") (TSX VENTURE:TNR - News) is pleased to announce an increase to a 100% undivided ownership interest in the Shotgun project in Southwestern Alaska (the "Property") through the acquisition of NovaGold Resources Inc.'s ("NovaGold" or the "Vendor") outstanding 50%.

Key Highlights:

-- Acquires NovaGold's 50% interest in the Property to increase it's ownership to 100%;

-- 6,000,000 shares and 3,000,000 warrants in the Company for consideration of NovaGold's 50% interest;
-- Shotgun Ridge contains a Non NI43-101 historical resource of 980,000 ounces grading 0.93 g/t(i);

-- 210.5 metres grading 1.29 g/t Au at Shotgun Ridge indicates higher grade feeder zone open at depth; and
-- $8 million spent on the project to date by the Company and previous operators.

"The Shotgun property is a major gold asset and the successful unification of a 100% interest translates into a significant increase in inherent value for the Company," states Gary Schellenberg, CEO - TNR Gold Corp. "The current economic climate is ideal for the advancement of a project such as this and we look forward to the opportunity to realize its potential."

NovaGold has agreed to sell its remaining 50% participating interest in the Property (the "Interest") to the Company in consideration for receiving an aggregate of 6 million common shares and 3 million share purchase warrants in the capital of the Company. In addition, a 2% net smelter returns royalty from mineral products produced from the Property will be granted to the Vendor by the Company, which can be purchased by the Company for USD 5 million any time prior to a production decision having been made.

Each share purchase warrant shall entitle the Vendor to acquire one common share in the capital of the Company for a period of three years following the completion of the purchase and sale of the Interest (the "Closing Date") at a price of C$0.20 per share from the Closing Date until the date which is one year from the Closing Date, at a price of C$0.25 per share from the date which is one year and one day from the Closing Date until the date which is two years from the Closing Date and at a price of C$0.30 per share thereafter until the expiry date.

Shotgun Project

The Shotgun project is located 175 kilometres south of Donlin Creek within the Kuskokwim Gold Belt in Southwestern Alaska, an area emerging as a world-class gold district hosting more than 40 million ounces of aggregated gold resources. The Shotgun project includes a number of prospects, including Shotgun Ridge and nearby Winchester. Donlin is an intrusion-associated system and represents one of the largest undeveloped gold deposits in the world. The Company believes that there are several key similarities between prospects in the Shotgun Project area and that of the Donlin Creek gold deposit as well as other intrusion associated deposits.

Previous work at Shotgun Ridge by NovaGold has estimated a historical resource of 980,000 ounces grading 0.93 gram per tonne (g/t) at a cut-off of 0.5 g/t(i).

The Company built on NovaGold's previous exploration work on Shotgun Ridge and a subsequent drill program in early 2006 reported a 210.5 metre intersection grading 1.29 g/t Au, which has led to the identification of two higher grade feeder zones and leaves the mineralization open at depth. This discovery intersection has yet to be followed up and an updated NI43-101 compliant resource has yet to be estimated. To date there has been 4,095 metres of drilling at Shotgun Ridge.

(i)(Not a NI43-101 compliant resource. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources, the issuer is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon. This resource estimate is quoted from the Technical Report on the Shotgun-Winchester Project, SW Alaska. 7 March 2008 and available on www.sedar.com).

The Winchester zone is an underexplored intrusion-associated gold prospect situated approximately 16 km south of Shotgun Ridge. The full extent of mineralized sills and dykes at Winchester is unknown since only 1.5 kilometres out of the 8 kilometre long ridge, host to numerous unexplained gold geochemical anomalies, has been explored in detail. Drilling during 2005 and 2006 identified gold-bearing sills in the eastern end of the Winchester zone. To date there has been 1,653 metres of drilling at Winchester.

Although the style of gold mineralization in sills at Winchester is quite different from the quartz-breccia stockwork that hosts the gold at Shotgun Ridge, the two prospects are geochemically very similar and are considered to be part of the same overall system. TNR believes a major structural axis, encountered in several drill sections, is critical to the mineralization and runs parallel to the ridge at Winchester. The next phase of exploration at Winchester will extend into the untested area along the ridge to the west in the direction of the structural axis.

The other two prospects that make up the Shotgun property are Shot and King. Shot contains some of the strongest geochemical anomalies on the Property and needs to be tested for similar mineralization to that found at Winchester. King includes several unexplained geochemical anomalies as well as a drill ready breccia zone.

John Harrop, P.Geo, is the company's qualified person on the project as required under NI 43-101 and has reviewed the technical information contained in this press release.

ABOUT TNR GOLD CORP. / INTERNATIONAL LITHIUM CORP.

The Company is a diversified international metals exploration company focusing on the continued advancement of existing properties and identifying and acquiring new prospective projects. The Company has a portfolio of 18 active projects, of which 9 rare metals projects, including Mariana, will be held or optioned to the Company's wholly owned subsidiary International Lithium Corp upon completion of a proposed plan of arrangement.

The objective of the proposed plan of arrangement is to spin out the Company's rare metals property interests into a separate public company, International Lithium Corp. This proposed plan of arrangement has been approved by the Company's shareholders and the courts of British Columbia. The Company will now proceed with the spin out and will provide updates on the progress of the spinout in further news releases. For further details of the spinout, please refer to Stockwatch news dated May 26, 2010, or visit International Lithium's website.

The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the combined companies' commitments to generating projects, diversifying its markets, and building shareholder value.

On behalf of the board,

Gary Schellenberg, President

CUSIP: #87260X 109

SEC 12g3-2(b): Exemption #82-4434

Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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Barrick says gold could "easily" exceed $1,500/oz ABX, TNR.v, NG.to, GG, MAI.to, AUY, BVN, FCX, AEM, KGC, GRC.to, NGQ.to, SGC.v, BVA.v, BVG.v, MXR.to

 

  If you grow something it takes time, energy and a lot of effort. Not all connections will be apparent at the first sight - you need to know what you are doing. Those who are in this Gold Bull market from its very beginning, remember that Barrick was always among those "hedgers who was playing by the music of anti gold cartel." Situation has changed, when the company announced its unloading of its hedging and now it will enjoy the leverage to the gold price, but the real party will be going where resources are - in junior mining sector. In order to have more understanding of the next steps to realise value in this stage of this Bull we need to do some digging. We will refer you to couple of our old post, which are relevant today even more than before.

"4. First Gold will make new all-time high, second will be M&A play: Majors will shop for Juniors with resources in the ground. Here is the double-game - Gold is moving up and Majors' production and Reserve Base is going down. If you like more leverage you are welcome to Silver market. Place to be is in stories will strong management, growing resources and stable political situations. Markets will be volatile by all means and political tensions will be driving this Gold Bull as well."

"CS, Junior Mining economics, bullish case for Hard Assets, Gold and Silver.

Just few short months ago we all have been worrying that Argentina will default. If you consider the Junior mining companies share prices like MAi.to, CGH.to and TNR.v involved in Argentina - even today discounts show that Mr Market is still awaiting some kind of tsunami to cover all the goods in the ground by miles of water.

We know that there is a battle against that huge mine, but we will leave environment responsibility with Barrick Gold ABX and connect here a few important points in our Value Web.

Mining business is a very close and interconnected. Juniors are taking the risk to fund, find and develop resources, Majors are buying these resources and are ready to pay a top buck to buy the time."

"Blue sky is called blue sky because of its unlimitness, but the edge between the TenBagger and worthless dreams is very sharp and hurt a lot of people. First hole drilled with economic mineralisation normally brings excitement and flood of money compare to Junior's market Cap and average volume of trading - nobody really knows how big is that thing in the ground. Before that hole will make its way from our "3 of one Thousand" to boring and relatively safe producing mine, Junior Mining company drilled that hole will experience Investment Cycle we would like to write about today. We have discussed before Junior Mining economics and our Bullish case for the Real Things. There is no question for us that the big money will be made in the sector again, the big question is Where?"

Reuters:

Barrick says gold could "easily" exceed $1,500/oz

By Jan Harvey

BERLIN

Mon Sep 27, 2010 4:11pm IST

BERLIN (Reuters) - Barrick Gold, the world's number one miner of the precious metal, said on Monday gold prices could "easily" outperform recent record highs to rise above $1,500 an ounce in the next year.

"From what we're hearing, there are still significant new buyers coming into the market," Jamie Sokalsky, the company's chief financial officer, told Reuters on the sidelines of the London Bullion Market Association here.

"My view is that we could see much stronger prices still from here," he said, adding: "I can see gold easily taking out new highs and going above $1,500 an ounce in the next year."

Spot gold rose to a record high of $1,300 an ounce on Monday. Delegates at the LBMA meet were bullish on prices earlier on Monday, delivering an average forecast of $1,406 an ounce for this time next year.

Sokalsky said compared with where gold was in the early 1980s, at around $2,300 an ounce on an inflation-adjusted basis, prices still had substantial upside.

"Given all the factors that are there to support gold -- macroeconomic factors, supply and demand factors, geopolitical tensions, a still-simmering sovereign debt crisis -- I think the ledger has so many more reasons to buy gold that to sell," he said.

He said the company's recent closure of its hedges -- forward sales of gold made to lock in prices of future production -- meant it now had greater leverage to the rising gold price.

DEMAND SOARS

Demand for gold has soared in recent years as the financial crisis boosted the precious metal's appeal as a haven from risk, while concerns quantitative easing may debase paper currencies have fueled buying of bullion as an alternative asset.

Supply has struggled to keep pace, with central bank selling, once a significant source of bullion to the market, falling off sharply and scrap supply erratic despite rising prices.

Sokalsky reiterated Barrick's output forecast of 7.6-8 million ounces for 2010, but said the company's $500 million Cortez Hills mine, which went into production in the first quarter of this year, was likely to outstrip its current production target.

"The first two quarters have been great quarters for the mine, so we expect to exceed that guidance of 1.1 million ounces...probably in the neighborhood of 5-10 percent," he said.

Barrick's cash costs for the year were likely to be at the upper end of its existing $425-455 an ounce guidance as rising gold prices increased royalty obligations, he added.

Nonetheless he said margins remain healthy. "We are seeing significant margin expansion," he said. "In the second quarter our margin against cash costs was over $700 per ounce."

He said when two projects currently under construction -- Pueblo Viejo in the Dominican Republic and Pascua-Lama on the Chile-Argentina border -- are in full production, they will contribute 1.5 million ounces a year for the first five years at cash costs below $200 per ounce.

"These are very good long-life projects that, once in operation, will look to lower our overall cost base," he said.

(Reporting by Jan Harvey; Editing by Sue Thomas)"

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Avino Silver and Gold Mines samples 0.8 m of 5,522 g/t Ag at San Gonzalo ASM.v, EPZ.to, RVM.to, MGN, TNR.v, GRC.to, GBN.v, BVA.v, BCG.v, ALK.ax, NGQ.to, SGC.v, KTN.v

 

  We know Avino Silver for years and we have only one problem with this company - their goal "Resume production as quickly as possible" is in the market for the last five years at least. So far progress was very slow at least. But it is a junior mining silver play, even with sleeping management silver will not be able to slip from the company's property. Question is how much do they actually have? In the beginning of Silver boom years ago they had some kind of a huge bogus number posted of historical resources, which have disappeared with more strict reporting. Now we think with resent silver prices everything with the word silver could fly and Avino Silver definitely has some goods. The most important is that its Mill could justify market value of the company alone. We are pleased to see, finally, good results from ongoing exploration program.

"Avino Silver & Gold Mines is an experienced, Vancouver based mining and exploration firm with properties in Mexico and Canada.

The company's primary goal is to reactivate the Avino silver-gold-copper-zinc-lead mine in Mexico, which Avino operated for 27 years beginning in 1974. Low metal prices and the closure of a key smelter forced the operation to close in 2001.

Current metal markets and high-grade discoveries on the property's San Gonzalo vein have greatly improved the economics and feasibility for potential production.

Since 2007, Avino has invested in extensive rehabilitation and modernization of the mill. A 10,000-tonne bulk sample in 2010 is expected to move the project closer to a production decision.

Our key objectives for 2010:

Execute the San Gonzalo bulk sample program.

Continue developing the San Gonzalo resource

Resume production as quickly as possible

Expand resources, reserves and the mines output

Identify and explore new targets on the property

Avino also holds precious metals properties in British Columbia and the Yukon Territory.

Stockwatch:

Avino samples 0.8 m of 5,522 g/t Ag at San Gonzalo

2010-09-28 12:13 ET - News Release

Mr. David Wolfin reports

AVINO ASSAYS UP TO 0.80 M OF 5,522 G/T AG & 1.304 G/T AU AT SAN GONZALO

Avino Silver & Gold Mines Ltd. has released an update of the continuing underground development at its San Gonzalo project at the Avino property in Durango, Mexico.

Avino's mine contractor, DMG, has been driving two declines, the upper level 1 (2,306-metre elevation) and lower level 2 (2,260-metre elevation). Both levels intersected the San Gonzalo vein, level 2 has intersected the San Gonzalo vein and a splay vein. These are known as San Gonzalo vein 1 (SG1) and San Gonzalo. They are shown on a plan map on Avino's website.

DMG drifted along both San Gonzalo and San Gonzalo 1 on both levels 1 and 2. To the northwest, both levels broke into the old San Gonzalo workings and DMG is now driving a raise to connect the two levels.

Avino is pleased with the minable widths and excellent grades found to date on SG1 in its underground development program. Avino has now outlined the areas on the San Gonzalo vein 1 where stope preparation for production will commence in the next few days. As shown on the plan map on Avino's website the results shown in the attached table are from west to east."

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• Gold in Canada: Goldstone Resources: Premier Gold drills 53 m of 5.49 g/t Au at Hardrock GRC.v, PG.to, TNR.v, GBN.v, NGQ.v, SGC.v, ASM.v, RVM.to, MGN, EPZ.to, KTN.v, BTT.v, ALK.ax, GG, NEM, BVN, ABX, KGC, AUY (sufiy.blogspot.com)
• Gold Fever: Rise in gold sector M&A raises eyebrows TNR.v, MAI.to, GRC.to, ASM.v, SGC.v, NGQ.v, KTN.v, EPZ.v, ALK.ax, GBN.v, RVM.v, MGN, AMM.to, AUY, BTT.v, KS.v, ABX, NEM, GG, BVN, (sufiy.blogspot.com)
• Investing in Lithium: Looking for Catalyst TNR.v, CZX.v, RM.v, LIT, LIT.v, TSLA, HEV, AONE, CLQ.v, WLC.v, ABN.v, HAO.v, FMC, SQM, (sufiy.blogspot.com)
• Gold and Silver: Junior gold miners 'provide M&A allure' TNR.v, GRC.to, AMM.to, NGQ.to, SGC.v, ASM.v, EPZ.v, KTN.v, MGN, CUU.v, ALK.ax, MXR.v, BVG.v, BVA.v, GG, FCX, NEM, KGC, BVN, AUY, (sufiy.blogspot.com)

TNR Gold Corp. States No Adverse Material Change / Proceeding as Proposed With International Lithium Spin-Off TNR.v, CZX.v, NG.to, ABX, RM.v, LIT, LI.v, WLC.v, CLQ.v, MAI.to, GRC.to, NGQ.to, SGC.v, NEM, FCX

 

"For us it is the very powerful combination: Warren Buffett, China and electric cars. Latest move by BYD into Lithium space in order to secure supply of strategic commodity confirms our observations and investment thesis. In our educational exercise on this blog we are privileged to learn from the Master himself."

"In time of quants, flash crashes and cybertraders good old common sense and understanding of basic instincts and emotions will keep us cool and our investments in our publishing business save. Yes, we will be talking about Warren Buffett. Most of the people these days will spend more time selecting the plasma TV than stocks they own. We call it "plasma TV effect". We are still wondering - why is it so difficult for us to get rid of the warm herd feeling and it is so easy to chase the stocks which are going up? "Buy when nobody wants it" - we reminded to ourselves this summer and enjoyed the party. With plasma TV we are always happy when it is on Sale, with stocks it is so difficult to buy, when they are down. Warren Buffett says: "Be Fearful When Others Are Greedy And Greedy When Others Are Fearful." What makes him different? He is able to act as he says. He was buying BYD stake when the world was falling apart in Fall 2008 and his investment of 232 million USD made an incredible 1 billion dollars paper profit by Summer 2009.



Please do not get us wrong: in order to act like this you need to be Warren Buffett, that is why we are always following him. And another very important notice: do not forget to check the plasma TV which is on sale - it should be showing video in a high definition and with a 3D sound."

  TNR Gold responds to "cyber trading" activity, about which we have wrote a few days ago. Stock is recovering now, but Scotia was still hitting at every bid with 500 shares even yesterday. Who would like to to punish the company and suppress the price of this junior? Is it mysterious hedge fund specialised in under 20 mil market caps? Is it Big Oil crashing competition from alternative energy or somebody just would like to squeeze a cheap settlement from stubborn company insisting on its property rights - we do not know and will not speculate about it. We have plenty of facts to write about, when we are talking about this company.

  Apparently, company is in the middle of its IPO financing efforts, according to the NR. Cyber trading does not help, but company is on track. Trips are scheduled to China and Europe - our take is that company is carefully considering its best options with available partners from lithium end users.

"Non-Executive Chairman and major shareholder Kirill Klip plans to participate in this financing along with other insiders." - insiders are stepping in and, according to RCR research note on TNR Gold, Kirill Klip holds 23.5% of TNR Gold already. He bought recently a large block of shares in TNR Gold - 3.3 mil at 0.21CAD in July filed on SEDI. All insiders and management are holding 50% in the company, according to IR.

  News about China are interesting, there are a few weeks of holidays normally starting in mid September - we guess it maybe the reason for a delay in closing of financing. Then again, who would like to jump into the bad marriage - IPO is very important for this company and Mariana is shaping nicely according to the latest presentation. We like to see very interesting Potash grade at Mariana among Lithium and other rare metals in International Lithium portfolio.

  Kirill Klip is involved in another junior miner in Canada - Canada Zinc Metals, that company is closing financing now with  Tongling - Chinese copper and Zinc giant will be holding more than 30% of the company. We can guess that TNR Gold and International Lithium have some introductions in China already as Canada Zinc Metals holds a "strategic investment stake in TNR Gold".

  Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advise on this blog and there is no solicitation to buy or sell any particular company here. Always consult with your qualified financial adviser before making any investment decisions.

TNR Gold Corp. States No Adverse Material Change / Proceeding as Proposed With International Lithium Spin-Off

Press Release Source: TNR Gold Corp. On Tuesday September 28, 2010, 7:43 pm EDT

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 28, 2010) - TNR Gold Corp. ("TNR") (TSX VENTURE:TNR - News) and wholly-owned International Lithium Corp. ("ILC") (jointly the "Company") is stating that the Company knows of no adverse material change that would explain the recent market activity and is proceeding with the plan of arrangement to spin-off of the Company's rare metal projects into International Lithium Corp.

In order to complete the plan of arrangement, the Company is intending to raise a minimum of $2.5 million to provide International Lithium with sufficient operating and administration funds to satisfy Exchange requirements for listing. The proposed financing will entail the offering of a minimum of 10 million units in ILC priced at $0.25 per Unit. Each Unit consists of one common share and one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of ILC at a price of $0.375 for a period of two years from the date of closing. Certain fees may be payable for a portion of the placement.

Company executives are focused on the completion of the private placement in an expeditious manner including traveling abroad to China and Europe to transact with potential investors and end product users that the Company has developed strong relationships with over the course of the last year.

Non-Executive Chairman and major shareholder Kirill Klip plans to participate in this financing along with other insiders.

Upon closing of the financing the Company will file the required final paperwork with the applicable regulatory bodies in order to complete the listing process of International Lithium Corp.

ABOUT TNR GOLD CORP. / INTERNATIONAL LITHIUM CORP

The Company is a diversified international metals exploration company focusing on the continued advancement of existing properties and identifying and acquiring new prospective projects. The Company has a portfolio of 18 active projects, of which 9 rare metals projects, including Mariana, will be held or optioned to the Company's wholly owned subsidiary International Lithium Corp upon completion of a proposed plan of arrangement.

The objective of the proposed plan of arrangement is to spin out the Company's rare metals property interests into a separate public company, International Lithium Corp. This proposed plan of arrangement has been approved by the Company's shareholders and the courts of British Columbia. The Company will now proceed with the spin out and will provide updates on the progress of the spinout in further news releases. For further details of the spinout, please refer to Stockwatch news dated May 26, 2010, or visit International Lithium's website.

The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the combined companies' commitments to generating projects, diversifying its markets, and building shareholder value.

On behalf of the board,

Gary Schellenberg, President

Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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Gold in Canada: Goldstone Resources: Premier Gold drills 53 m of 5.49 g/t Au at Hardrock GRC.v, PG.to, TNR.v, GBN.v, NGQ.v, SGC.v, ASM.v, RVM.to, MGN, EPZ.to, KTN.v, BTT.v, ALK.ax, GG, NEM, BVN, ABX, KGC, AUY

  Now Goldstone Resources is back to business and Hadrock deposit continues to grow. "Drilling at Hardrock continues to deliver strong results in multiple zones that are expected to add materially to our current gold resource." Share price is to follow.

  CS. We have a final accord of Corporate Governance in action in Canada. So many managers forget that they are hired to run the company by its shareholders and company belongs to them. Management's main goal is to build value for shareholders, avoid unnecessary dilution and think about the business like its owners would think by themselves - it is a dream some would say and they will be right. So go where owners are in charge as well and management has significant stake in the business. You have already more than enough risk in junior mining in order to be engaged in games around dilution, options, salaries, offices and perks.

  Goldstone Resources has joined today the club with NGeX resources, where Lukas Lundin owns stake and is Chairman of the board, and both Minera Andes and TNR Gold have their own major shareholders holding large stake in the companies



Stockwatch:


Premier Gold drills 53 m of 5.49 g/t Au at Hardrock

2010-09-28 09:55 ET - News Release

See News Release (C-PG) Premier Gold Mines Ltd

 

Mr. Ewan Downie of Premier Gold reports

PREMIER - DRILLING EXPANDS DEEP GOLD ZONES AT HARDROCK 5.49 G/T AU ACROSS 53.0 M INCLUDING 11.34 G/T AU ACROSS 19.5 M

Premier Gold Mines Ltd.'s deep drilling continues to delineate significant gold mineralization in multiple horizons below historically mined zones where more than 2.1 million ounces were produced to maximum depths of only 600 metres at the Hardrock project in Northwestern Ontario. Because of continued success, additional drills are being added such that 11 drill rigs will be operational on the property in the coming weeks. Recent highlights include the following results:

 

Deep drilling in the F-zone, following up a previously released intersection of 9.28 grams per tonne (g/t) gold (Au) across 28.4 metres (m) (0.27 ounce per ton across 93.2 feet) in MM093, has returned 5.49 g/t Au across 53.0 m (0.16 ounce per ton across 173.9 feet) including 11.34 g/t Au across 19.5 m (0.33 ounce per ton across 64.0 feet) in MM172.

Deep drilling to the west of historic mine workings in the F-zone returned multiple gold intersections including 4.36 g/t Au across 17.8 m (0.13 ounce per ton across 58.4 feet) and including 8.36 g/t Au across 4.3 m (0.24 ounce per ton across 14.1 feet) in MM157. Of note, this intersection is located 300 metres west of, and 50 metres below, the deepest and westernmost mining.

Deep drilling in the North zone and F-zone continues to intersect strong gold values suggesting excellent resource potential proximal to and below existing mine workings.

"Our deep drilling below the historic mine workings is returning impressive results in three separate areas. This is very significant for the project because it confirms that the historic zones extend to depth and are wide open for expansion," stated Tim Twomey, exploration manager for Premier. "Drilling at Hardrock continues to deliver strong results in multiple zones that are expected to add materially to our current gold resource."

F-zone

The F-zone is the largest of the past-producing mine zones at Hardrock which produced more than 1.4 million ounces utilizing bulk underground methods with widths often exceeding 30 metres (100 feet). Importantly, hole MM172 tested up plunge of an area where high-grade gold mineralization was identified below the F-zone on the bottom mine level (Level 13) but was never mined. This target, which is interpreted to represent a second lens of the F-zone, remains wide open for expansion. Current drilling is focused on defining mineralization proximal to and below the lower levels of the mine. To date, five holes have been drilled over a 250-metre strike length (complete results presented in the associated table), successfully intersecting high-grade gold mineralization including:

 

9.28 g/t Au across 28.4 m (0.27 ounce per ton across 93.2 feet) including 43.50 g/t Au across three metres (1.27 ounces per ton across 9.8 feet) in hole MM093;

5.49 g/t Au across 53.0 m (0.16 ounce per ton across 173.9 feet) including 11.34 g/t Au across 19.5 m (0.33 ounce per ton across 64.0 feet) in hole MM172. This intercept is located approximately 100 metres below the limits of mining of the F-zone on this section.

NEW SUBZONE INTERCEPTS FROM F-ZONE DEEPS

Hole ID From (m) To (m) Interval (m) Grade (g/t) Interval (feet) Grade (ounces per ton)

MM093* 564.1 592.5 28.4 9.28 93.2 0.27

Including 588.0 591.0 3.0 43.50 9.8 1.27

MM100* 660.0 694.5 34.5 2.10 113.2 0.06

750.2 759.5 9.3 4.71 30.5 0.14

MM116

Extension 816.0 817.5 1.5 9.70 4.9 0.28

MM025

Extension 709.1 732.4 23.3 2.08 76.4 0.06

Including 709.1 710.3 1.2 8.49 3.9 0.25

Including 728.6 732.4 3.8 5.31 12.5 0.16

MM172 640.5 693.5 53.0 5.49 173.8 0.16

Including 674.0 693.5 19.5 11.34 64.0 0.33

*Denotes previously released drill holes.

True widths estimated at approximately 60 to 70 per cent of intersection.

Note that gaps in hole numbers in these tables are due to 10 different drill rigs assigned the next sequential

drill-hole number as each hole is completed. These are being drilled in five separate areas within the Hardrock

project. Other hole numbers can be considered to carry no significant values or are included in other zones,

some of which may have already been released.

 

Hardrock western deeps (F-zone)

One drill is currently testing for mineralization to the west of, and below the limits of, historic mining at Hardrock which was mined to a maximum depth of 600 metres. This is considered to be shallow for an Archean gold deposit, with more than 2.1 million ounces having been recovered. The new drilling is located approximately 300 metres to the west of, and 50 metres below, the westernmost mined area at Hardrock. Two gold zones were intersected in hole MM157 with assays of 4.36 g/t Au across 17.8 m (0.13 ounce per ton across 58.4 feet) including 8.36 g/t Au across 4.3 m (0.24 ounce per ton across 14.1 feet) and a second zone that returned 5.44 g/t Au across 4.5 m (0.16 ounce per ton across 14.8 feet). Additional drilling in this new area is continuing. New drill results from the western extension area are contained in the associated table.

NEW SUBZONE INTERCEPTS FROM WESTERN EXTENSION DRILLING

Hole ID From (m) To (m) Interval (m) Grade (g/t) Interval (feet) Grade (ounces per ton)

MM157 899.5 924.0 24.5 3.21 80.4 0.09

Including 904.7 922.5 17.8 4.36 58.4 0.13

Including 904.7 909.0 4.3 8.36 14.1 0.24

938.5 943.0 4.5 5.44 14.8 0.16

True widths estimated at approximately 60 to 70 per cent of intersection.

North zone

Drilling is also focused on expanding mineralization below the bottom level of the historically mined North zone which remained open at the time of closure. New drill results from the North zone are contained in the associated table. Of note, hole MM164A, which represents the deepest hole drilled to date within the North zone target, approximately 570 metres down plunge of the bottom level of the mine (Level 13), has returned 12.25 g/t Au across 2.4 m (0.36 ounce per ton across 7.9 feet). Continuing drilling with four drill rigs is continuing to expand mineralization in this area. An X-zone in MM155D grading 29.10 g/t over 1.5 m is a quartz vein that will require close-spaced drilling likely from underground to measure its potential. It is located near MM073 which returned 17.70 g/t over 1.5 m.

NEW SUBZONE INTERCEPTS FROM NORTH ZONE

Hole ID From (m) To (m) Interval (m) Grade (g/t) Interval (feet) Grade (ounces per ton)

MM106E 776.5 781.9 5.4 3.61 17.7 0.11

Including 781.0 781.9 0.9 7.29 3.0 0.21

790.5 792.7 2.2 4.24 7.2 0.12

799.8 801.0 1.2 5.17 3.9 0.15

807.4 811.7 4.3 4.53 14.1 0.13

MM155 551.3 554.8 3.5 42.00 11.5 1.23

722.0 724.0 2.0 10.66 6.6 0.31

MM155A 908.5 911.5 3.0 5.97 9.8 0.17

917.5 919.2 1.7 3.84 5.6 0.11

MM155B hole abandoned

MM155C 839.8 840.9 1.1 5.12 3.6 0.15

853.5 855.0 1.5 4.05 4.9 0.12

877.5 885.5 8.0 4.83 26.2 0.14

Including 882.5 884.0 1.5 15.90 4.9 0.46

534.0 535.5 1.5 29.10 4.9 0.85

MM155D 849.3 850.4 1.1 6.41 3.6 0.19

863.8 865.5 1.7 6.68 5.6 0.20

800.0 801.5 1.5 5.38 4.9 0.16

MM155E 849.1 850.5 1.4 6.72 4.6 0.20

857.7 858.3 0.6 7.66 2.0 0.22

862.0 865.5 3.5 4.71 11.5 0.14

825.7 829.1 3.4 5.95 11.2 0.17

MM155F 840.4 844.5 4.1 3.21 13.4 0.09

854.4 855.4 1.0 12.40 3.3 0.36

MM164A 951.4 953.8 2.4 12.25 7.9 0.36

Including 951.4 952.8 1.4 19.94 5.2 0.58

962.5 964.0 1.5 14.00 4.9 0.41

MM165 403.0 406.7 3.7 8.23 12.1 0.24

513.0 517.0 4.0 16.66 13.1 0.49

True widths estimated at approximately 60 to 70 per cent of intersection.

Missing holes can be considered to carry no significant value or will be included with other zones.

NN zone drilling

Recent drilling continues to define mineralization within the NN zone, down plunge and at depth below the previously announced, near-surface, National Instrument 43-101 resource estimate at Hardrock. Drilling in the NN zone is shifting from a focus on open-pit-style mineralization to defining narrower, underground-style resources. Recent drilling has returned numerous significant intersections (previously released) including 9.62 g/t Au across 5.8 m (0.28 ounce per ton across 19.0 feet) in hole MM160, 4.93 g/t Au across 10.5 m (0.14 ounce per ton across 34.4 feet), 22.97 g/t Au across 24.8 m (0.67 ounce per ton across 81.4 feet) and 8.14 g/t Au across nine metres (0.24 ounce per ton across 29.5 feet). Follow-up drilling down plunge of these intersections is under way.

The Hardrock project is operated under a joint venture with Goldstone Resources Inc. (Premier holds a 70-per-cent interest in the project). The Hardrock project is host to several past-producing mines which collectively produced nearly three million ounces of gold from 1938 to 1968 primarily from shallow depths within 600 metres of surface. The Hardrock project benefits from development advantages with the Trans-Canada Highway, Trans-Canada pipeline and major power lines running through the centre of the property. A revised resource calculation is expected to be completed following the 2010 drill program containing both open-pit and underground-style resources.

Stephen McGibbon, PGeo, is the qualified person for the information contained in this press release and is a qualified person within the meaning of National Instrument 43-101. Assay results are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Ancaster, Ont., for preparation and analysis utilizing both fire assay and screen-metallic methods.

We seek Safe Harbor.

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